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Lightstone Capital closes $70M in senior loans for San Diego and Houston CRE
The deal package includes financing for a 78-unit Bankers Hill multifamily property and a 98-unit Carlsbad conversion with 15 affordable units.
Lightstone Capital, the real estate debt platform of Lightstone, has closed three senior-loan originations totaling $70 million across California and Texas, according to ConnectCRE.
In California, the financing includes a senior loan for Kaya Apartments, a 78-unit multifamily community at 2700 Third Ave. in San Diego’s Bankers Hill neighborhood, and a senior loan for The Flats at TerraMar in Carlsbad, which will convert a former Studio 6 hotel into a 98-unit apartment community that includes 15 affordable units.
In Texas, Lightstone Capital originated a senior loan for the acquisition of an industrial asset at 300 S. Sheldon Rd. in Channelview, just east of Houston.
ConnectCRE also noted that John Zubak, managing director and head of origination for the Western Region, led both California deals, while Elias Haddad, director of the Central Region, led the Channelview industrial financing.